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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: jim_p who wrote (6582)	10/4/2007 8:44:42 AM
From: RonMerks	Respond to of 50115

The most famous short seller is NOT overly concerned? Interesting article here on the credit blow up, the PPT and short selling. Jim Chanos is the most famous short seller on Wall St. and he was among 20 'outsiders' who were allowed to attend the "Presidents working group on financial markets' recent meeting. Otherwise known as the 'PPT'. This article is by permabear Bill Fleckenstein. articles.moneycentral.msn.com An item that I felt folks would find most newsworthy is that the president's working committee on financial markets, known by some as the PPT, or plunge protection team, now has about 20 outsiders who attend certain meetings to advise the committee. One of them is none other than noted short-seller Jim Chanos, who left Grant's conference early last Tuesday to attend a PPT meeting. In response to my question as to why the committee had chosen him and others, he cited one reason: that the panel was worried about adverse publicity and wanted to communicate that there was no nefarious buying of S&P futures, as is constantly rumored. This is a story that I'm sure will have legs. Though not an earthshaking development, given all the emotion that the PPT evokes, it's a fact worth knowing. Even Chanos -- who is quite bearish on structured finance and who pointed out many of the absurdities that readers are familiar with, such as Level 3 accounting, otherwise known as mark-to-fantasy -- didn't seem overly bearish. However, I did not specifically question him as to his opinion. Hey Jimp, don't take it personal, but you know the ads that pop up on the posts on SI- well here's the one that's showing up on your post, Pee & Poo Doll Set One is brown, one is yellow, Both are popular kids and adults. www.ScandanavianDetails.com 'pee and poo' ??????????? Google somehow matches these adds to the content of the posts- which in this case I found rather interesting <vbg>? Ron

To: jim_p who wrote (6582)	10/5/2007 8:52:05 AM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 50115

jim p re:["I doubled my shorts this week and am thinking about using leverage to double again if we get more strength in the market."] Food for thought vis a vis this market environment: If you find yourself in a strange city and invited to a nice friendly little game... "Never sit down to play cards with a guy who had a city named after him." Jim, Not only are the cards "marked"...but, they got magnets under the roulette tables too. :) SOTB

To: jim_p who wrote (6582)	10/5/2007 9:23:25 AM
From: chainik	Respond to of 50115

J, just one argument - exactly the same as in August: you are in a very bad company. This is from August: <According to Hulbert, 10 best market timers are 92% long, while 10 worst market timers are a little bit short> And this is now: marketwatch.com Current score is 86%:40%. Smart guys won't be right all the time, but suckers are almost always wrong. This is the major rule of the game (g)

To: jim_p who wrote (6582)	10/5/2007 5:04:38 PM
From: Crimson Ghost	Read Replies (1) \| Respond to of 50115

Jim: Did you misspeake when you implied that interest rates are high today. In reality they are very low and quite negative in real terms almost everywhere (especially using true inflation figures and not the phoney CPI numbers put out by the Ministry of Truth) Low interest rates are the key force behind all the bubbles extant today. The global financial system now is so leveraged that allowing interest rates to rise to levels that would provide savers even a minimum real rate of return would trigger a grizzly bear that could cut stock averages by 30% or more. Not until inflation gets so bad as to be a greater threat to the system than a grizzly bear will interest rates be allowed to climb to reasonable levels IMHO. By that time POG probably will be a multiple of today's $740.